Hong Kong Freezes Stablecoin Rollout, Leaving HSBC, Standard Chartered Waiting

So, it seems that the much-anticipated rollout of stablecoin licenses is… well, still on hold. According to Wu Blockchain (you know, the one that always seems to have the inside scoop), and cited by Caixin, Hong Kong is making applicants wait a little longer before handing out those elusive licenses. The new rule? If you want to issue a stablecoin in Hong Kong, you’ll have to pass muster with the Hong Kong Monetary Authority (HKMA). Simple enough, right?